318 .40 Over..?

I'm not much of a gear head, horsepower guy.. I just don't have the knowledge.. I bought a 71 318 a couple years ago.
I have not heard it run, and it's been on a stand since purchase.
I was "told" it ran good / strong.. No details given on the rebuild, but it does have a double roller chain and j heads. I'm putting a LD4B intake on it. No idea on cam specs.
I recently took a look inside the cylinders and found the .40 stamped pistons.
I guess my main question is, what is the reason someone chooses .40 over .30 or .20..? Why not .60 over..? May be a dumb, rookie type question, but just wondering.

Thanks.
Machinists will generally encourage a customer to only bore as much as an engine needs to clean it up. Going from standard bore to even .100 over shows so little addition in power you'd never feel it, so boring is not the way to gain power, despite what the Chevy guys brag about.